May 30, 2007
Variable Student Loan Interest Rates Rise Slightly July 1, 2007
Student loan interest rates for federal loans disbursed between July 1, 1998 and June 30, 2006 will rise slightly when the rates are reset on July 1, 2007.
The interest rate for Stafford loans in repayment will change from 7.14 to 7.22 percent. Stafford loans in an in-school, grace or deferment status will change from 6.54 to 6.62 percent.
PLUS loans will increase from 7.94 to 8.02 percent. The U.S. Department of Education will officially announce these changes in the near future.
For Stafford loans disbursed on or since July 1, 2006, the interest rate remains fixed at 6.8 percent and PLUS loans disbursed on or after July 1, 2006 remain fixed at 8.5 percent.
To read more, visit http://www.treasurydirect.gov/RI/OFBills and http://www.financialaidpodcast.com/2007/05/30/fap544-new-student-loan-rates-set-latinos-and-financial-aid-military-student-loans-sophia-ramos/